** Citi Research raises price target for cruise operators as easing geopolitical tensions and falling fuel costs improve earnings visibility and margins

** Brokerage raises PT on Carnival Corp CCL.N to $37 from $35, Royal Caribbean RCL.N to $362 from $348 and Norwegian Cruise Line NCLH.N to $25 from $21

** Cruise sector is benefiting following the U.S.–Iran deal reopening Strait of Hormuz, a key oil shipping route

** “We believe the end of the conflict is a clear positive for the cruise space and likely gives operators more confidence in their planning moving forward,” Citi says, adding fuel prices have also been falling in recent weeks and months

** Carnival is set to report Q2 earnings on June 23

** Citi sees potential upside to CCL's outlook, saying recent developments “may give management more confidence to flow through any 2Q beat and leave back-half assumptions unchanged.”

** As of last close, CCL down 1.4%, NCLH down ~10%, RCL up 12.5% YTD